FTSE 250 index was up 0.57% to 21,013 along with the AIM all-share index up 0.14% to 1,037 despite retail sales declining and cost of living increasing in times of geopolitical turmoil.
FTSE 250 Risers
Homserve was the FTSE 250 top riser as it continued to gain following reports of a takeover approach by a Brookfield Asset Management. Homeserve shares were trading 8% higher going into the close on Friday.
Pantheon International shares increased 1.4% to 315p as the company reported a 1.3% increase in its NAV per share to 417.6p in its monthly update – their NAV now stands at £2.3bn. The firm also noted total shareholder return over five years of 77%. In terms of their portfolio, PIN invested £14.9m in Hg Saturn 3, a European buyout fund.
Murray International Trust shares gained 0.49% to 1,234p as the trust rose NAV from 0.9% to 14.1% in 2021. Murray increased their total dividends for 2021 to 55p, compared to 54.5p in 2020.
Residential property builder, Grainger saw shares rise 1% bucking the trend in an otherwise turbulent session for housebuilders and REITs. Redrow and Crest Nicholson were both down over 3%.
VinaCapital Vietnam saw shares gain 0.4% to 504p after the company reported a 6.9% increase in NAV per share and 33% rise in its half-year dividend.
FTSE 250 Fallers
Capricorn Energy shares were trading down 0.8% to 217p following the general meeting results in favour of the company’s resolutions.
Helios Towers shares sank 1.9% to 115p as the company acquired Airtel Africa’s passive infrastructure company in Malawi for $55m funded through the Old Mutual Infrastructure Investment Trust Fund. Despite the investment amounting to 20% worth of Malawian shareholdings, the company requires a license for local telecommunications infrastructure.
Petropavlovsk shares plummeted 15% to 1.5p as the gold miner is facing a liquidity crisis since Russian sanctions have resulted in an asset freeze for Gazprombank. The mining company has significant connections to Gazprombank including a $200m term loan.
“Is a cash flow crisis about to hit Russia-based gold miner Petropavlovsk? It has been caught up in sanctions on Russia whereby its lender Gazprombank is no longer able to buy its gold,” said Russ Mould, Investment Director, AJ Bell.
“Historically the bank had an agreement to buy everything Petropavlovsk produced, so the miner must now find a new taker for its precious metal. That’s going to be difficult in the current environment.
“Petropavlovsk has bills to pay and it will be tricky to settle up if there is no cash coming in the door. It’s no surprise to see the share price fall further on the news, now down 92% year to date.”
AIM Risers
Knights Group Holdings saw a 6.3% rise to 154p after confirming the acquisition of Langleys Solicitors for a cash consideration of £2.75m payable in 3 installments.
Kitwave group shares gained 0.7% to 145p as all 15 resolutions were passed in the annual general meeting.
Blue Star Capital shares soared 33% to 0.37p as the investment company reported a 24% increase in pre-tax profits to £2.1m from £1.7m in 2020 as a positive result from their blockchain developments. The company also saw NAV increase 36% to £12m from £9m.
Alliance Pharma shares rose 5.1% to 117p with the acquisition of ScarAway, allowing the company access to the scar treatment market. The company also acquired the US rights to Kelo-cote, a scar treatment product, leading one of its brands selling on a global level.
Cinema operators, Everyman Media shares were flat as the company reported 67% increase in admissions, higher than management expectations as the venues regain demand which was hindered due to Covid restrictions.
AIM Fallers
Igas and Pantheon Resources saw their shares fall 7.7% and 6.6% respectively as oil prices remain higher than the $110 mark.
Retailer Sosandar’s shares sunk 4.6% to 25.5p on fears consumers will begin tigheting their belts and reduce spending on non-essential goods.
Osirium Tech shares fell after a strong rise yesterday on the back on a contract win.